The reason for this is the nearer term option that you are selling is then out of the money which reduces the initial probability that the option will be exercised by a counter party and you will have the option assigned.

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None is likely to mount a counter-offer: option clauses in First Union's deal make it prohibitively expensive for another bidder to undo.

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In a major speech outlining Labour's economic policy, he said acting now to counter the slowdown was a better option than just "hoping for the best".

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Southampton had a chance to put the result beyond doubt when a swift counter-attack found Lee Holmes in space with the option to square it for Lambert but he opted to shoot and then headed wide from Lambert's follow-up.

BBC: Sport - Millwall 1-1 Southampton